These are some of the upgrades and downgrades we are seeing from Wall Street this Tuesday morning:

• Dick’s Sporting Goods (DKS) Raised to Outperform at Baird.
• IDEXX Laboratories (IDXX) Started as Buy at Piper Jaffray.
• Mastercard (MA) Raised to Buy at Goldman Sachs.

• Wipro (WIT) Raised to Neutral at Goldman Sachs.
• Affiliated Computer Services (ACS) Cut to Neutral at Goldman Sachs.
• Automatic Data Processing (ADP) Cut to Neutral at Goldman Sachs.
• Chunghwa Telecom Co. Ltd. (CHT) Cut to Neutral at Goldman Sachs.
• Focus Media (FMCN) kept as Buy but Target cut to $59 from $80 at Citigroup.
• Nortel (NT) Started as Sector Perform at CIBC.
• Patni Computer Systems (PTI) Cut to Sell at Goldman Sachs.
• Total System Services (TSS) Cut to Sell at Goldman Sachs.

Jon C. Ogg
August 19, 2008